When did Silicon Valley Bank declare bankruptcy?

Silicon Valley Bank declared bankruptcy on March, 2023 10.

On March 10, local time, the US banking regulator announced the closure of Silicon Valley Bank, which made headlines in major media in the United States. According to American media reports, Silicon Valley Bank has been established for 40 years and is headquartered in California. It is the 16 largest bank in the United States. Its customers are concentrated in high-tech start-ups, including Canadian e-commerce Shopify and American recruitment website ZipRecruiter.

Silicon Valley Bank (SVB), 1983, established in the United States, is a subsidiary of Silicon Valley Bank Financial Group. Through 27 offices in the United States, 3 international branches and extensive business networks in Asia, Europe, India and Israel, it has provided $2.6 billion in loans to venture capital and start-ups.

The Historical Evolution of Silicon Valley Banks

August 201February 15, Shanghai Pudong silicon valley bank officially opened, with its headquarters in Yangpu district, Shanghai. Mr. Fu Jianhua, the former vice chairman and president of Shanghai Pudong Development Bank, became the chairman of Silicon Valley Bank of Shanghai Pudong Development Bank, and the president was personally served by Mr. Wei Gaosi, the current chairman of Silicon Valley Bank of the United States.

On March 13, 2023, according to Bloomberg News, the German Federal Financial Supervisory Authority (Bafin) ordered the suspension of the business of the German branch of Silicon Valley Bank. On March 13, 2023, the Company Reorganization Committee appointed William Costros as the Chief Reorganization Officer. Costros is the arc Consulting Group (Alvarez &; Marsal) is the vice chairman of the American restructuring business department and a member of the company's American restructuring executive Committee.

Reference to the above content: Baidu Encyclopedia-Silicon Valley Bank